Avondale Partners assumed coverage on shares of Luminex Corp. (NASDAQ:LMNX) in a research report sent to investors on Wednesday morning. The firm issued an outperform rating and a $27.00 price target on the stock.
A number of other analysts have also recently weighed in on the company. Zacks Investment Research cut Luminex Corp. from a buy rating to a hold rating in a research report on Thursday, July 28th. Jefferies Group boosted their price target on Luminex Corp. from $21.00 to $23.00 and gave the stock a hold rating in a research report on Thursday, July 28th. Finally, JPMorgan Chase & Co. raised Luminex Corp. from an underweight rating to a neutral rating and boosted their price target for the stock from $18.00 to $22.00 in a research report on Thursday, August 18th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $23.00.
Luminex Corp. (NASDAQ:LMNX) opened at 21.88 on Wednesday. The stock has a 50 day moving average price of $22.08 and a 200 day moving average price of $21.03. The firm has a market cap of $952.83 million, a price-to-earnings ratio of 22.84 and a beta of 0.42. Luminex Corp. has a 12 month low of $17.29 and a 12 month high of $23.75.
Luminex Corp. (NASDAQ:LMNX) last issued its earnings results on Thursday, July 28th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.18. Luminex Corp. had a return on equity of 13.65% and a net margin of 16.60%. The firm had revenue of $64.20 million for the quarter, compared to the consensus estimate of $61.20 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, equities analysts expect that Luminex Corp. will post $0.63 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas boosted its position in Luminex Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 5,429 shares of the company’s stock valued at $110,000 after buying an additional 659 shares in the last quarter. Mason Street Advisors LLC purchased a new position in Luminex Corp. during the second quarter valued at approximately $153,000. Creative Planning boosted its position in Luminex Corp. by 1.6% in the third quarter. Creative Planning now owns 8,923 shares of the company’s stock valued at $203,000 after buying an additional 141 shares during the period. Huntington Asset Advisors Inc. purchased a new position in Luminex Corp. during the first quarter valued at approximately $194,000. Finally, Legal & General Group Plc boosted its position in Luminex Corp. by 30.9% in the second quarter. Legal & General Group Plc now owns 10,357 shares of the company’s stock valued at $207,000 after buying an additional 2,446 shares during the period. 79.83% of the stock is owned by institutional investors and hedge funds.
Luminex Corp. Company Profile
Luminex Corporation develops, manufactures and sells biological testing technologies with applications throughout the diagnostics, pharmaceutical and life sciences industries. The Company has a range of instruments using its xMAP technology, including its LUMINEX 100/200 systems offer 100-plex testing; the Company’s FLEXMAP 3D system is its high-throughput, 500-plex testing system, and its MAGPIX system provides 50-plex testing using imaging rather than flow cytometry.
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